A bill to authorize the exchange of existing Federal oil and gas leases in the State of Montana, located in the Lewis and Clark National Forest and the Flathead National Forest, for credits in future Federal oil and gas lease sales in the Gulf of Mexico, and for other purposes.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Feb 5, 1998)
Authorizes the Secretary of the Interior to exchange certain Federal oil and gas leases in a specified exchange area in the State of Montana for credits that may be used for: (1) bids in Federal oil and gas lease sales, or for royalty and rentals due under Federal leases in the central and western planning areas of the Gulf of Mexico for leases outside a specified zone; and (2) bid, royalty or rental payments due under Federal oil and gas leases on Federal land in the State of Montana.
Provides that the amount of such credits shall be based on investments made in lease acquisition and development before the date of enactment of this Act and agreed to by the Secretary and the leaseholder.
Withdraws such exchange area from: (1) location and entry under the mining laws; and (2) leasing under the mineral leasing laws.
Directs the Secretary to pay to the State of Montana the amount it would have received in cash but for the leaseholder's use of such credit to pay rentals or royalties on a Federal oil or gas lease on Federal land in Montana.
What just happenedFeb 6, 1998
Referred to Subcommittee on Forests and Public Lands.
Who’s behind it
- Introduced in SenateFeb 5, 1998
- Feb 6, 1998Committee
Referred to Subcommittee on Forests and Public Lands.
Public Lands, Forests, and Mining Subcommittee - Feb 5, 1998IntroReferral
Read twice and referred to the Committee on Energy and Natural Resources.
Energy and Natural Resources Committee - Feb 5, 1998IntroReferralB00100
Sponsor introductory remarks on measure. (CR S455-456)
- Feb 5, 1998IntroReferral10000
Introduced in Senate